Rockline Wealth Management LLC Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Rockline Wealth Management LLC grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,965 shares of the financial services provider’s stock after purchasing an additional 595 shares during the period. Rockline Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $2,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Brook Capital Group Inc. increased its stake in The PNC Financial Services Group by 0.6% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 62 shares during the period. Triangle Securities Wealth Management grew its stake in The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 70 shares in the last quarter. Cooper Financial Group increased its position in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 70 shares during the period. Berkshire Bank raised its stake in shares of The PNC Financial Services Group by 2.0% during the first quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 71 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of The PNC Financial Services Group by 22.3% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 390 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 71 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Up 1.1 %

Shares of PNC traded up $2.05 during mid-day trading on Monday, hitting $185.09. 1,978,200 shares of the company traded hands, compared to its average volume of 1,889,618. The business has a 50 day moving average of $170.16 and a 200 day moving average of $159.53. The company has a market capitalization of $73.57 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $185.57.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a dividend of $1.60 per share. The ex-dividend date was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.46%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Barclays raised their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Jefferies Financial Group upped their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.02.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the transaction, the chief executive officer now owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,021 shares of company stock worth $4,190,611. 0.42% of the stock is currently owned by insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.